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U.S. Securities and Exchange Commission

SEC News Digest

Issue 2008-166
August 26, 2008

INVESTMENT COMPANY ACT RELEASES

Van Eck Associates Corporation, et al.

An order has been issued on an application filed by Van Eck Associates Corporation, et al. The order amends an existing order that permits: (a) series of an open-end management investment company that are based on equity or fixed-income indexes for which no entity that creates, compiles, sponsors, or maintains the indexes is or will be an affiliated person, or an affiliated person of an affiliated person, of any applicant, or any sub-adviser or promoter to a series, to issue shares that can be redeemed only in large aggregations; (b) secondary market transactions in shares to occur at negotiated prices; (c) dealers to sell shares to purchasers in the secondary market unaccompanied by a prospectus when prospectus delivery is not required by the Securities Act of 1933; (d) certain affiliated persons of the series to deposit securities into, and receive securities from, the series in connection with the purchase and redemption of large aggregations of shares; (e) under specified limited circumstances, certain series to pay redemption proceeds more than seven days after the tender of shares; and (f) certain registered management investment companies and unit investment trusts outside of the same group of investment companies as the series to acquire shares. The amended order permits applicants to offer series based on securities indexes for which the investment adviser applicant may be deemed a sponsor. (Rel. IC-28365 - August 25)


STANDARDS SETTING BOARDS

Final Rule

The Commission approved proposed Ethics and Independence Rule 3526, Communication with Audit Committees Concerning Independence, conforming amendments to interim standard ISB No. 1 and two related interpretations, and amendment to Rule 3523, Tax Services for Persons in Financial Reporting Oversight Roles (PCAOB-2008-03) submitted by the Public Company Accounting Oversight Board. Publication is expected in the Federal Register during the week of August 25. (Rel. 34-58415)


SELF-REGULATORY ORGANIZATIONS

Immediate Effectiveness of Proposed Rule Changes

A proposed rule change (SR-ISE-2008-65) filed by the International Securities Exchange relating to fee changes has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of August 25. (Rel. 34-58411)

A proposed rule change (SR-NYSEArca-2008-84)filed by NYSE Arca to discontinue its policy of requiring legal opinions in connection with listings of securities has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of August 25. (Rel. 34-58413)

A proposed rule change (SR-CBOE-2008-89) filed by the Chicago Board Options Exchange to amend its rules related to the Hybrid 3.0 Platform and Lead Market-Makers has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication is expected in the Federal Register during the week of August 25. (Rel. 34-58422)


Approval of Proposed Rule Change

The Commission approved a proposed rule change (SR-FINRA-2008-025) submitted by the Financial Industry Regulatory Authority that moves current NASD Rule 2790 (Restrictions on the Purchase and Sale of Initial Equity Public Offerings) to the Consolidated FINRA Rulebook as FINRA Rule 5130 as well as minor technical changes to the rule text. Publication is expected in the Federal Register during the week of September 8. (Rel. 34-58421)


SECURITIES ACT REGISTRATIONS


RECENT 8K FILINGS

 

http://www.sec.gov/news/digest/2008/dig082608.htm


Modified: 08/26/2008